Georgia § 7-1-170 - Sales or exchanges of securities; sales of liens or personal property.
Full text of Georgia Official Code of Georgia Annotated § 7-1-170 — Sales or exchanges of securities; sales of liens or personal property., with citation guidance and answers to common questions.
§ 7-1-170. Sales or exchanges of securities; sales of liens or personal property.
The department may, without leave of court, sell on any stock exchange or otherwise, at such times and in such manner as it may deem advisable, listed or unlisted securities which belong to the financial institution in receivership. The department may, without leave of court, exchange listed or unlisted securities for other securities of the corporation issuing the securities or of a corporation which has merged or consolidated with or has taken over such corporation. The department may, without leave of court, sell any mortgage or other lien upon real property or any judgment, at such times and in such manner as it shall deem to be advisable. Except as otherwise specifically provided by this chapter, the department may, without leave of court, sell: At public sale; or At private sale, for a net consideration not below the amount at which such personal property has been valued in the appraisement required by this chapter, any personal property which belongs to the financial institution in receivership or which such financial institution has the power to sell. It may, with leave of court, sell such personal property at private sale upon such terms and under such conditions as the court shall prescribe to be commercially reasonable. (Ga. L. 1919, p. 135, art. 7, § 7; Code 1933, § 13-807; Code 1933, § 41A-721, enacted by Ga. L. 1974, p. 705, § 1.)
Frequently Asked Questions About Georgia § 7-1-170
What does Official Code of Georgia Annotated § 7-1-170 cover?
Section 7-1-170 ("Sales or exchanges of securities; sales of liens or personal property.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 7-1-170?
A common citation format is "Official Code of Georgia Annotated § 7-1-170" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 7-1-170 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.